From NJBIZ:
NJ sees steep drop in new jobless claims, labor data shows
Despite record-high nationwide unemployment, New Jersey saw a steep drop in the number of people seeking jobless claims last week as the COVID-19 pandemic slams the breaks on nationwide commerce, according to federal labor data released Thursday.
For the week ending April 25, a total of 71,017 New Jerseyans filed for unemployment, compared to 140,139 state residents who applied for jobless benefits the week ending April 18, according to the U.S. Department of Labor.
That brings the total number of jobless claims in New Jersey to almost 930,000 since the pandemic hit New Jersey nearly six weeks ago, and Gov. Phil Murphy enacted a virtual statewide lock down and sweeping restrictions to contain the spread of the virus.
Nationwide, more than 30 million Americans filed for unemployment since the onset of the pandemic. But 3.8 million Americans sought jobless claims last week, still 603,000 lower than the 4.4 million applications filed the week ending April 18.
…
Labor officials ensured that since Murphy’s March 16 stay-at-home order, the state paid out $1.4 billion in benefits to unemployed and furloughed workers. That includes $727 million from the state’s own pool of money, and $690 million from the additional $600 per week checks that started going out earlier in April.
Between April 20 and 24, the state paid out $211.1 million of jobless benefits, compared to $179.7 million the week before that, and $140.7 million between April 6 and 10.
Freelancers, independent contractors, and self-employed residents will see their long-awaited unemployment payments on May 5.
From the Star Ledger:
N.J. mayor thinks he had coronavirus 2 months before 1st confirmed case in U.S.
The mayor of Belleville is making a startling yet uncorroborated claim that he contracted the coronavirus in New Jersey in November, two months before the first confirmed U.S. case in Washington State.
Mayor Michael Melham said he recently asked his doctor, days after a routine physical, to test his blood for COVID-19 antibodies — and got a positive finding on Wednesday.
The first case of the coronavirus in the United States was announced January 21. New Jersey’s first coronavirus case wasn’t diagnosed until early March. Melham, though, said he is convinced he was infected four months earlier. He recounted becoming ill while in Atlantic City attending the New Jersey League of Municipalities Conference.
“I was definitely feeling sick when I was there, and fought my way through it,” he told NJ Advance Media on Thursday.
After returning home Nov. 21 from the convention, Melham said a doctor diagnosed his worsening symptoms — including a 102-degree fever, chills, hallucinations and a sore throat that ended up lasting for three weeks — as a bad case of the flu.
“I have never been sicker in my entire life,” Melham said, though he acknowledged that he did not have the respiratory problems often associated with the coronavirus.
A glimpse of what we’re in for next year…
School’s proposed 22% tax hike will ‘force some people to lose their homes,’ taxpayers say
In its first telephonic meeting of the coronavirus outbreak, the Asbury Park Board of Education put off voting on a 2020-21 school budget that would raise taxes 22%, even before hearing residents’ warnings that such a steep hike amid the economic hard times wrought by the virus would drive some of them out of town.
The reason for the proposed $2 million increase in the amount to be raised through local property taxes is a $5 million cut in state aid to the district for the 2020-21 school year under a funding formula adopted three years ago, according to Asbury Park Superintendent of Schools Sancha Gray.
In an interview on Wednesday before the meeting, Gray said the 22% increase in the local levy, from $8.9 million to $10.9 million, would require a property tax hike of $329 a year for the owner of a home assessed at $700,000.
So roughly 13% of NJ’s civilian/non-institutional population (~7m), a bit over 20% of NJ’s civilian labor force(~4.6m) has lost their job.
At the current run rate (70k weekly), we’ll be at 25% in 3 weeks.
Roughly 125 people have lost their job, per covid death.
Is asbury still an abbot district? Either way shocking they are losing 5 million in state aid. Also shocking that a 22% tax increase on a 700k house is only $329 more in taxes.
Texas begins reopening today. I don’t know if it will impact the number of cases we have since when I went out earlier this week there were so many people out. Too many to just be doing essential stuff.
I’m going to continue to avoid grocery stores and order from imperfect foods and using instacart
Two afternoons this week I hit traffic on Rt 46.
Way more people are out.
“To be clear, right now, if you are building a new 100-unit apartment building, construction is closed. However, if there is one affordable unit in that under construction building, then construction is currently open. Obviously, the work conditions for the workers is the same in either case.”
I’ve been shouting into the abyss to no avail so have for the most part just shut up.
There is no logic or reason for even the major mandates under this ‘crisis’. Why would you expect the execution of them to make sense?
Truly amazing, given the human and financial toll that will be paid for many years.
For 44 year olds and under, I would say “I’m sorry” except that I have been so vocal. For 24 year olds and under, this needs to be a massive wake up call or, well, you will get what you deserve.
“Roughly 125 people have lost their job, per covid death.”
Run that ratio on four more data sets…44 and under and 24 and under, with and without co-morbidities.
Then if you want to see the true criminality run the ratios excluding from covid deaths anyone ill and over 80.
But, hey, let’s unveil more homemade wall sized mask collages on primetime tv and escort empty navy ships out of NY harbor with escort ships spraying salutes……
I can’t believe we’ve reached the closest thing to a real life doomsday scenario and all the precious metal clowns from 10 years ago haven’t been saturating this site.
I wonder if they are using physical gold and silver as payment at Costco.
Scott Gottlieb (former FDA Commissioner) on CNBC now…
China has been closely tracking new cases and it appears 60% of new cases are asymptomatic…Gottlieb asked for feedback.
He replies that ‘may be’ high and a good US benchmark is our aircraft carrier outbreak since it was a closed environment and everyone was tested. On that ship, 50% of sailors tested positive but were asymptomatic.
So…let’s see…half the people who contract this virus don’t even present symptoms, it runs its course right through them?
Hmmmm…I guess that puts it on the same level of danger for these people as, say, the bacteria from the wet dirty sponge on the side of your sink?
Biden PR team busy this morning with the deny, deny, deny campaign.
Self published article in Medium ,tweets, and an early morning appearance on CNN.
Interesting part of the denial. I would question the part about “News organizations that have talked with literally dozens of former staffers.” They are hoping nobody that ever worked in his Senate Office at that time that is still breathing comes forward, or the media will stop digging.
“She has said she raised some of these issues with her supervisor and senior staffers from my office at the time. They — both men and a woman — have said, unequivocally, that she never came to them and complained or raised issues. News organizations that have talked with literally dozens of former staffers have not found one — not one — who corroborated her allegations in any way. Indeed, many of them spoke to the culture of an office that would not have tolerated harassment in any way — as indeed I would not have.”
https://medium.com/@JoeBiden/statement-by-vice-president-joe-biden-7a9593bd3012
If there is one reason and one reason only to re-elect Orange Hoover over Sleepy Joe is stuff like this,
https://www.washingtonpost.com/opinions/global-opinions/china-has-turned-to-bullying-to-avoid-accountability-it-may-be-working-on-europe/2020/04/30/30be39c2-8977-11ea-9dfd-990f9dcc71fc_story.html
Even if it means more of this,
https://www.bloomberg.com/news/articles/2020-05-01/trump-hails-kushner-s-airlift-but-details-of-sales-are-secret?srnd=premium
I can’t believe we’ve reached the closest thing to a real life doomsday scenario and all the precious metal clowns from 10 years ago haven’t been saturating this site.
I wonder if they are using physical gold and silver as payment at Costco.
No, but it’s nice to see something in your portfolio up since Feb and up 30% YOY. Welcome back tho.
Left wing,
https://www.nj.gov/health/cd/documents/topics/NCOV/COVID_Confirmed_Case_Summary.pdf
NJ doesn’t report deaths by age…?
Here’s a non-gov website that has deaths by age but it’s as of 4/13/2020.
https://www.njtvonline.org/news/uncategorized/tracking-the-coronavirus-in-new-jersey/
Is asbury still an abbot district? Either way shocking they are losing 5 million in state aid. Also shocking that a 22% tax increase on a 700k house is only $329 more in taxes.
Yes, and 5 million in state aid is nothing. That district has been rolling in the money for years. I believe it’s $30k a kid now. That’s nearly double what the districts that I worked in operate on. They get brand new buildings, we get roof leaks everywhere. They are building a gigantic building where they are charging a million dollars a unit. They can afford to pay for just a little more of a fraction of their own school now…so can Jersey City.
It should be noted, most suburbs lost 5 million + dollars in state aid under Chris Christie and never got it back. In fact…they routinely gave us a middle finger as they increased our aid by $1 each year.
NYC continues to provide this table:
https://www1.nyc.gov/assets/doh/downloads/pdf/imm/covid-19-daily-data-summary-deaths-04302020-1.pdf
BRT
It’s shocking a 22% tax increase on a 700k house is only $329. Most blue ribbon town a 2% tax increase would be at least $200 for almost all homes, and those towns get hardly any state aid back.
Upcoming Trump 2020 campaign slogan chanted at rallies this summer . . .
“SEND THE BILL! SEND THE BILL!”
As in, send China the bill for the cost of COVID for failing to contain the outbreak, lying about it, and silencing the whistleblowers. The U.S. government has already pumped $2 trillion+ into stimulus. Stimulus, economic damages, medical costs, and compensation for loss of life in the U.S. would be in the, what, maybe $4 trillion range?
11:05 meanwhile Trump had plenty of warning. He golfed, held rallies, and called it a hoax. He’ll be reminded of his timeline as we approach the election.
He’ll be reminded of his timeline as we approach the election.
Don’t forget DeBlasio’s, Cuomo’s and Pelosi’s timeline as well.
And Obama’s and Bush’s.
and the Alamo.
I’ll add the timeline of Adam and Eve that caused all the mess.
If you look at:
Table 2. Deaths involving coronavirus disease 2019 (COVID-19), pneumonia, and influenza reported to NCHS by age group, United States. Week ending 2/1/2020 to 4/25/2020.*
https://www.cdc.gov/nchs/nvss/vsrr/covid19/index.htm
I read the comment from the asterisk, but could that potential time lag really explain the big difference between the CDC numbers and what’s reported elsewhere daily?
Am I misreading the table?
And Waterloo and Cannae
I’m only posting this to further criticize Murphy – not commenting about the situation improving or deteriorating.
https://www.nj.com/coronavirus/2020/04/nj-coronavirus-death-toll-surges-to-7228-with-118652-total-cases-more-than-450-new-deaths-announced-in-highest-single-day-increase.html
Meanwhile, the total number of cases is cumulative and does not reflect the likely thousands of people who have recovered from COVID-19, officials said.
I laughed out loud two days ago when a reporter asked why New York state continues to report total cases and active cases, stressing the latter, and NJ only reports on total. Murphy, Persichilli and Christina Tan didn’t understand the question. These are our experts.
PS. Active cases remove the ones who’ve recovered as well as those unfortunately who died.
Actually I blame young Bush, once he was elected President, all real qualifications went out the window.
Joyce, I’ve linked to the CDC data here before. Problem is that there is a data lag of a few weeks that distorts analysis.
Your NJ link has death by age, graph on the last page.
There are ZERO deaths under age 17. Let’s repeat….ZERO. Healthy, unhealthy, boy, girl…ZERO….
Yet Cuomo and Murphy spend countless hours wringing their hands how they are going to reopen schools, how to get 10 year olds to safe distance, getting extra rooms, etc. etc.
ZERO deaths from C19 for kids 17 years old and under.
The State of NJ has literally killed more schoolchildren than this virus.
To be honest, getting schools open by June only serves one purpose. To allow some parents to get back to work. Learning in June is always a complete and total joke. That’s why finals were great. We had the kids focus on studying what they learned because their grade really depended upon it. Then..the parents statewide…banded together and got finals cancelled in nearly every district.
Yes, the lag really does affect the CDC data…Deaths are about half of total known. Look at footnote 2 in Table 1, may take up to eight weeks for full data. Also the Percentage of Death column….you can see 4/25 is showing only 49% of expected, which will obviously go above 100%…..
The look back on how we needlessly harmed the under 44 year old generation while in possession of knowledge that our actions were uncalled for…….freaking amazing
Wow… can’t believe I missed the last page. Thank you. I wish it included underlying conditions like NYC. Not factoring that in, the numbers are:
95% of deaths over the age of 50
79% of deaths over the age of 65
leftwing says:
May 1, 2020 at 12:48 pm
Your NJ link has death by age, graph on the last page.
People will get back their jobs in some shape or form, but a life lost is lost forever. I’m just saying that for all those comparing job losses with death.
RentLord,
It’s an incomplete statement.
Entirely incompetent.
And everyone agrees on the goal to save lives from the virus.
You do that by quarantining those at-risk.
Not quarantining those unaffected, like one would do in some Seinfeld bizarro world….
“We’re going to have a significant drone strategy.”
Wonder how long that will last.
The truth of the assisted living homes, many of those people were not living before. Dementia, incontinence, etc. I’d rather be gone.
Good Laugh thanks !
Happy Friday – quality time spent in creative projects w/ a 16 y-o.
Got high fives and hugs. Priceless.
Excess deaths are way up compared to the same time period for other Years
https://www.news.com.au/lifestyle/health/health-problems/coronavirus-global-excess-deaths-show-covid19s-massive-impact/news-story/61cd100c07f16107cd6f96544a0bbad5
The figures are staggering. Lots of areas are having 2 to 4.6 times number of deaths compared to previous years.
The question is, how do deaths look like 2 to 3 years from now. Is there a shortfall because this virus targets the unhealthy?
In case you’re looking for your town. The links to Central and South Jersey are there as well:
https://www.nj.com/coronavirus/2020/05/town-by-town-coronavirus-cases-and-deaths-in-north-jersey.html
India 1.3 billion people, total deaths 1100. This is unbelievable. Total cases on 30,000. Population age? I’m not buying it. Either the Gates foundation vaccinated them all or the temperature /sunlight is playing a part
Or they actually know what it means to shelter in place. Vishnu knows they know how to live minimally.
Walking,
Could also be diet related. Doctors are thinking more and more its the body’s inflammatory response to corona that’s making people severely ill or killing them. That’s why people with autoimmune diseases like Rheumatoid Arthritis are considered higher risk. Indian’s eat a lot of turmeric and it is also used as a medicine over there. I posted an article on the last thread a doctor wrote on foods and supplements to consume that he felt could help fight off corona and turmeric was on his list for its anti-inflammatory benefits.
err…. underreporting?
Libturd Singh says:
May 1, 2020 at 4:38 pm
Or they actually know what it means to shelter in place. Vishnu knows they know how to live minimally.
BTW – India has zero natural resources….. this oil selloff is a godsend to them….
Tumeric? I’ll start putting mustard on my burgers.
These allegations against Biden are burning out. The poster girl for Metoo is backing him.
https://deadline.com/2020/04/alyssa-milano-joe-biden-tara-reade-allegations-guest-column-1202921826/
I don’t want to get into allegations against the victim. So investigate away on both sides, I don’t think anything will surface and her previous Social Media tells a very interesting story.
These protests in MI yesterday are getting worrying.
https://twitter.com/johnpavlovitz/status/1256276487881330695
Donnie is backing these very fine people and DeVos is financing them. Does this have to turn into Oklahoma 2.0 before we get some GOP outrage?
Jamba Juice makes a kick a$$ Tumeric smoothie.
Kind of my new jam.
Traffic was up 5x at least running into LA today.
Los Angeles still wins dirtiest city award. Homeless Camps still everywhere.
Drug addled zombies roaming the streets.
fab, your bias is showing. The accusations against biden are more credible than those against Kavanaugh. One cannot help but look at this and see the hypocrisy. Frankly it’s much more believable that a sitting US senator would get away with assault vs. a 16 year old kid. I’m not opining on the validity of the accusation, it’s more the hypocrisy of prominent democrats.
The democrats advancing Biden is insane he is compromised, a career politician with links to the banks. A guy who was selected as VP to ensure the first black president wasn’t assassinated. Oh and it’s worse he seems to be senile at times. The incumbent isn’t good but he is politically inept and is not likely to have any kind of legislative success as he really didn’t achieve anything outside of TCJA while having a republican majority.
Sorry for not replying I was busy eating Krispy Kreme donuts. A new one opened up in Rutherford. I stopped off at Sonic afterwords to feed the kids.
So tell me more about this Indian diet vs us diet?
I only kid. I pass the Krispy Kreme every day the lines are 40 deep by 7:30. Regarding the Indian infection rate, it is also true that many families are multi genetational living in one home. You would think the rates would be higher because of this. Or am I missing something with grouping seniors in one space.
Heres some number to digest. Hospitalizations with and without the TriState.
https://twitter.com/ScottGottliebMD/status/1256308870810656769
Take out the West Cosst as as well, and those lines steepen.
I’m not joking…… WTF are you talking about? I don’t even really care either.
BTW, did you see the pictures of Reade when she was younger…. she did not age gracefully, but wow she was pretty back at the time.
Fabius Maximus says:
May 1, 2020 at 5:23 pm
These allegations against Biden are burning out
Actually, when you read articles online, you can tell the political slant of what you are reading. If they show a current picture, the article slants left. If they show an early 90’s picture, the article slants right….. nice cliff notes.
What way does this one slant?
https://web.archive.org/web/20190404043945/https:/medium.com/@shewrites94/why-a-liberal-democrat-supports-vladimir-putin-f54ca2a3a405
Like I say, its coming out and her previous Social Media posts are getting scrubbed.
Chicago,
Remember back in the day when (in particular) Comrade and Fabius would criticize each other incessantly over the source of their linked articles? I guess it’s a sign of the times that every link is Twitter these days.
I know why India has low infection rate.. This is from my Indian Wife.
1- It has one of the youngest population in the world. 27 years vs Italy’s 46
2- They have all sorts of immunization for most people. TB, Polio bla bla who knows
3- It’s hot in india during April-May. Survival rate for virus is down by 85%
4- They quarantined themselves big time early March. Shut the whole damn thing and planes
5- Lockdown is severe. You will get you ass whipped if you step out for no reason
6- They have extensive experience in managing epidemics and most Doctors know what to do
7- They are immune and battle hardened to a lot of stuff due to too much population, pollution, poverty and competition
8- Turmeric/garlic/orange and all the stuff they eat a lot…
9- The manpower they have to hunt down and isolate, is un-matchable.. (They put un-erasable ink on your hand, mark your house, visit you every 2 days if you came from abroad or were quarantined….). Send 100s of cops to areas of infection and isolate fully. Will whip your ass again if you step out.
10 – They have too many doctors and nurses
11- Your cellphone caller tune is a 2 min Coronavirus education and prevention statement…( try to call anyone and you will hear this before your call connects reminding everyone to take care)
12-Extensive use of bollywood , sports celebrities on TV to educate people to prevent virus spread
The Liberals loved Russia when it was the Soviet Union communist dictatorship, now that its just a plain old dictatorship they are evil. I would take Putin and the Russian government any time over the Chinese government.
7:14 dude do you even oligarch?!?
Ex Did you read the post Mate?
All this mask wearing should put the facial recognition folks back decades
7:40 twice! What’d I miss. I’d rather live under a corrupt oligarch than a communist regime. You sir just made a Hobson’s choice.
joyce – why do you think it’s an incomplete sentence?
Let me restate what Blue Teacher stated – “The virus targets the poor”.
The situation in India is so inverse – that people don’t want to go back to work even when the govt. wants them to.
Regarding Biden – Sexual predators don’t target one person their entire life. There’s usually a pattern. Unless there are a bunch of other women who accuse Biden, I’m not buying it. Plus, on the moral front, he is a saint compared to who we have now.
Ex Essex , no not what I said. What I said was I would rather deal with Putin and Russia, than China and the Chinese government. Lesser of two evils.
Sandy Hook to re-open, but no swimming in the 45 degree water.
https://www.nj.com/coronavirus/2020/05/sandy-hook-will-reopen-next-week-but-no-swimming-allowed.html
Interesting that a person who traditionally has taken umbrage from past ad hominem attacks is willing to put one forth when its suits your politics.
You are as full of hypocrisy as the others on the left…..
I guess we will only need to tolerate you until mid-evening on November 3rd. Then you will retreat to your cowardly echo chamber.
Fabius Maximus says:
May 1, 2020 at 6:34 pm
What way does this one slant?
https://web.archive.org/web/20190404043945/https:/medium.com/@shewrites94/why-a-liberal-democrat-supports-vladimir-putin-f54ca2a3a405
Like I say, its coming out and her previous Social Media posts are getting scrubbed.
Rent There are other allegations of sexual allegations or at least inappropriate behavior.
Yes Chi,
Shes got issues because of provable facts and past issues, that’s not Ad Hominem.
Joyce, my issues with Eddie Ray and sources circled around his use of Tax Foundation reports. He stopped using them when I stepped him thought how they were bought over by the Kochs.
3b if their are other allegations, bring them out to the open.
Just like “Her emails” we are going through round 2. Throw anything against the wall for the base and see what gains traction.
For all those in here that think they had CV back in X . At this point post a test result that shows it or STFU.
https://www.nj.com/coronavirus/2020/05/stop-saying-you-think-you-had-coronavirus.html
You’re sad.
It’s incomplete because as we’ve all discussed in here before there are human costs associated with recessions and depressions, up to and including deaths.
RentL0rd says:
May 1, 2020 at 8:19 pm
joyce – why do you think it’s an incomplete sentence?
Fab The other allegations are out there, the media just didn’t go pay much attention. As I said some are allegations of inappropriate touching, which he brushed off as being a touchy feely kind of guy. I don’t know about you but rubbing another womens back and smelling her hair and she is not your wife or girlfriend while it might not be sexual, it’s certainly inappropriate and down right creepy.
Fab, I think you need to STFU. The symptoms are not really similar to flu. My mothers neighbor in FL, who lives in Monmouth county was very ill in January and lo and behold her doctor gave her an antibody test which came back positive. So it was certainly spreading around NYC and it’s environs in January and February.
There are some tell tale symptoms of COVID that are not like the flu. There is sudden hypoxia and you might not notice it because discharge of Co2 is not effected. It will cause lethargy, headache, confusion and tachycardia. It is important we get a good understanding of when and where this started, I don’t believe November because of how quickly this spreads. We should test antibodies and people who suspected they had it should be tested.
Fab Biden is an inappropriate toucher, Lucy Flores in Nevada? The description of that episode is totally in character with the accusation from Reade. I’d bet there is a long list of young women in the political field that Biden has preyed on. Not terribly different than Trump, who I’m equally certain has engaged in his fair share of quid pro quo behavior with bimbos. Only somehow worse because with Trump I feel like it isn’t unspoken, Biden offers his help and then gets creepy. Politicians get away with it often, just look at Clinton, I certain there were a lot of interns etc…. So it’s rich that the WOKE party of #metoo is downplaying very questionable behavior.
12:48 it’s a non-issue. The Dems will make sure of it. Remember how easy it is to control the message. So everyone is woke now, we know stuff. Mainly snippets of what we can collect from those in the know.
Biden’s a creep. His stories are silly. Just remember though, he is simply front man for some powerful interests. Is anything a lock for November. No. But it’s definitely a horse race.
There is currently a wait list for the antibody test here in the Greater LA area.
Correct Covids no joke. I avoid the places I think are rife with it. Asian areas mostly.
Crazy to think that in Italy, one of the hardest hit places, nobody under the age of 18 died.. Not sure if the numbers changed since this was initially written (or based on), but damn, talk about kids really being invincible.
https://www.nejm.org/doi/full/10.1056/NEJMc2007617?fbclid=IwAR3v3rtRJmlJlxbB5K2P5huXAN4ZKBmlcAEBcMHoeE4YL6lqD0B4U2tS6Us
On February 20, 2020, the incidence of Covid-19 began to rapidly escalate in Italy. By March 25, Italy had the second highest number of Covid-19 infections worldwide and the greatest number of deaths.1 Children younger than 18 years of age who had Covid-19 composed only 1% of the total number of patients; 11% of these children were hospitalized, and none died.2
Given asymptomatic infection in children, the already low hospitalization rate (11% of 1%, or 0.11%) is likely far far lower yet.
Great piece on chloroquine over at Wired. https://www.wired.com/story/the-info-war-over-chloroquine-has-slowed-covid-19-science/
Thanks Phil. Common sense prevails.
https://www.fox5ny.com/news/jersey-shore-towns-cite-virus-to-keep-outsiders-off-their-beaches
American taxpayers helped pay for the sand on the Maryland Avenue beach, a popular spot on the New Jersey shore that was devastated by Superstorm Sandy and that has since been rebuilt and maintained with federal money.
Slated to reopen in mid-May, the plan was for only residents of Point Pleasant Beach to use it, at least at first.
But on Friday afternoon, New Jersey’s governor threw cold water on that plan, which is also being used by some shore towns around the country as they inch back toward resuming normal activities in the midst of the coronavirus outbreak.
Democratic Gov. Phil Murphy said reopening public beaches is a local decision. But in doing so, he said, the entire public has to be allowed on the sand.
“A township cannot actually legally restrict folks from outside of their township,” Murphy said. “So that’s not actually within their right to do so.”
…
Long-established law in New Jersey, including a 1984 state Supreme Court ruling, says public beaches must be open to everyone, not just local residents. But these are not normal circumstances. New Jersey has the second-largest number of coronavirus cases in the nation, trailing only New York. Officials in the Jersey Shore towns of Ship Bottom, Harvey Cedars and Long Beach Township also designated their beaches as residents-only.
But critics say the restrictions almost certainly violate federal and state laws governing equal protection, creating two classes of citizens with different rights based solely upon where they live.
“How can it be constitutional that a person who lives near the beach can go on it, but a person who lives a few blocks away across the town line can’t?” asked Ralph Coscia, president of Citizens Right To Access Beaches.
Friskies!
New listing for home sales were down 28.3% in March because of the coronavirus shutdown, according to a report by New Jersey Realtors, an industry group.
The economic toll is beyond devastating. So many lives, dreams crushed. Children are affected when parents lose job …stress and divorce. Many folks still haven’t been able to collect unemployment, are a couple of months behind on rent, and are starting to get worried about a knock on the door from the sheriff.
Lord have mercy. Hope most folks land on their feet sometime soon.
knock on the door from the sheriff?
Nobody is getting evicted anytime soon, in NJ the executive order goes two months past the end of the state of emergency.
Keep in mind that we didn’t go into lockdown until the middle of March. We probably saw three weeks of semi-normal listing activity. April will have fallen off a cliff.
Rutgers is sure doing a good job accumulating radicals and worthless bags of blood. The latest one humiliating the school with her incoherent garbage about the Coronavirus being racist appears to be barely able to string together a complete sentence. She calls herself a professor. It would be comical if it didn’t undermine the school.
Juice, I know but there’s a mental toll as well. Would suck to be in that position, needless to say. Good point though.
Separate note, I’m hearing that tons of undocumented immigrants are trying to head back to their home countries now. Not sure if accurate, but could have lasting labor market effects if true.
re: Wired.
(hydroxy)chloroquine was tested in China in 20 different trials before anyone said a word, long before Elon tweeted about it back on March 16th.
All this politicization of one drug HCQ is simply hatred of anything Trump says, lots of confirmation bias on both sides who are using the virus as a political tool in their war over power.
How dare the president say “what have you got to lose”, how dare he give any HOPE
at all to people. Perhaps he should have just said if you got the virus make sure you have your affairs in order..
It will be years before anyone agrees when and where it could possibly be effective as a prophylactic or as a treatment for those with mild, medium or severe symptoms, long after the election in 6 months and long after this Pandemic is over. It all will be forgotten about, as there will be no opportunity for cheap political points.
It’s spring selling season. There is not one house for sale in my development. All the retired folks are staying put, as well they are too afraid to leave their house never-mind moving to a retirement community in Florida or some other cheaper place to live. I guess the extra money they will save this year from not going on cruises, or trips to far flung places will allow them to continue to pay the high taxes.
AP – had some undocumented immigrants dig an 80 ft long 2 feet deep trench this week for me, no unemployed New Jersey based young adults out of work would stoop so low to do this kind of work, and most would would have quit after the first day. When I was in High School and College I did this kind of back breaking work for years. I have not seen a young american adult doing this kind of work over the summer in a long long time. Now with College out early and all the kids sent home? The young fat scared unemployed gringos won’t even to leave their parents homes to even look for work, there are no easy gigs bartenders or slinging coffee, what are they all going to do all summer?
The young adults of today are going to have to get off their fat asses and put down the touch screens and pick up a shovel if the immigrants go home. Anyone here think that is going to happen?
Crap I went outside this morning without taking my Yerba Santa! Quick where is the Bleach I need an injection!
Juice: And for those who might be looking, how many have lost their jobs,or are concerned about losing them. I would say people will be thinking twice before paying 400k for a POS Cape in Bergen Co. As well people may also be waiting to see where WFH goes in the future.
Juice that’s how their parents raised them. What would the neighbors think if they saw kids doing dirty manual labor. It’s been that way for years in Bergen Co.
EVMS CRITICAL CARE
COVID-19 MANAGEMENT PROTOCOL
Developed and updated by Paul Marik, MD Chief of Pulmonary and Critical Care Medicine Eastern Virginia Medical School, Norfolk, VA April 20th, 2020
https://www.evms.edu/media/evms_public/departments/internal_medicine/EVMS_Critical_Care_COVID-19_Protocol.pdf
Will the megacorps be able to absorb all the instant surplus labor loose in the economy now? At the rate of millions per month?
I suspect I’d rather dig a ditch than work at one of these distribution center
Rutgers is sure doing a good job accumulating radicals and worthless bags of blood. The latest one humiliating the school with her incoherent garbage about the Coronavirus being racist appears to be barely able to string together a complete sentence. She calls herself a professor. It would be comical if it didn’t undermine the school.
The scary thing was, when I was at Rutgers, those types were starting to come up through the engineering and science ranks. There were multiple professors who I was sure had less than a sophomores grasp of the subject walking around doing nothing but piggy backing onto published papers. They constantly were shielded from any criticism because they fit certain quotas.
They actually gave me a big fellowship to work with one of them. I quit 4 weeks into it because the person was too stupid to even understand the subject. And by quit…I just stopped showing up. They still sent me the money and no one ever said anything.
Drove around last evening. There were so many people out and about we couldn’t believe it, like a normal Friday pre ccp virus. Drove through Walmart parking lot and hardly any customers were wearing masks. This was across any ethnicity, not just the stereotype MAGA crowd. All the employees were though. Walmart had set up railings to form a chute parallel to the building for people to enter so they wouldn’t be near the people exiting and there were employees positioned to direct the customers entering. All the employees we saw were wearing masks. Drove through a Kroger parking lot and all the customers were wearing masks, no matter there ethnicity. Maybe mask wearing is a socio-economic thing in my area.
Also yesterday Tarrant county recorded its 2nd highest number of daily new cases and Dallas had its highest.
I counted 4 families in my neighborhood alone that have apparently decided that social distancing is no longer a thing. They were all talking face to face and kids playing with each other. I really don’t get it. It’s not that hard to talk to your neighbor from 6 ft away.
Is the Worst Over For Residential Real Estate? This Analyst Says Yes.
One analyst says there are signs that the U.S. housing market could already be on the upswing.
https://apple.news/Av8tBB480QEWcoNYDty9bGA
Real estate is such a good place to put your money. There’s not enough supply, and there is higher risk for major inflation. 3b, it’s just not going to go down…
“Listing prices have also been resilient, White says. The median listing price for U.S. homes increased 1% year over year as of April 24, the analyst writes, citing Redfin data. “We expect that the relatively low levels of for-sale home inventory in the U.S. (even pre-pandemic) to generally support home values this year unless the recovery/ re-opening of the U.S. economy fails to materialize or is overly protracted,” the report says.”
Not seeing any unemployment desperation here in CT. I called 6 people to clean up my 1/3 acre property. I have in ground pool so not even that much footage. 4 never returned calls. 2 showed up. One immigrant labor quoted $250 and he would leave pile on curb. Told him to take a walk. Another guy showed up and quoted $120. They did in Weds. and took 2 guys, two hours. $30 hr is not too shabby for them. Got lucky that must be newer com
Dead, I ain’t buying it. Low rates and all yes people are going to snap up some things that appear to be a value but with the way the economy is going housing is going to fall. I don’t see how it doesn’t, all revenue numbers are going down in pretty much every business. As a result people are being furloughed, fired or are going to have salary/bonus reductions. I know for a fact my wife and I are going to make significantly less this year. Our bonuses will be impacted and our rental property is a non-performing asset at this point. We need to keep an eye on oil, unless we truly move away from lock down and people go back to their old habits I don’t see how we avoid a deep recession. Even just containing the collapse of the travel and hospitality industry would be hard enough but I think it permeates further. People are afraid and not just of the virus….
Juice on HCL, we know a lot more about it than the media lets on. They have done in vitro and in vivo testing on animals using SARS. It seems there was a small inhibitory effect on the virus in animals, consistently the test subjects given the drug had milder illness. It did not however do a great job of reducing viral load and was wholly ineffective a prophylactic. My money would be on the results of human studies mirroring the animal studies. The drug does not work as well as one would expect from the in vitro tests but it is helping. It is no effective enough to suggest use as a prophylactic, it will not stop you from getting the disease.
My big 3 bank asked for hundreds of volunteers this weekend from all lines of business to assist with reviewing and submitting PPP applications to the SBA. They’ve stopped accepting new applications, but have something like 100K that still need to get submitted ASAP.
If MTA workers have a higher than average infection rate (which makes complete sense) and NYC needs these workers to operate and maintain the day-to-day operations… why wouldn’t they hire a 3rd party vendor and not use MTA workers to do the overnight sanitizing? It’s a brand new task they’ve never done before.
Whatever treatment works, I am all for… I am less suspicious that Remdesiv!r is being supported because Trump opened his big mouth about other stuff and more so because it’s still on patent.
https://arstechnica.com/science/2020/04/who-owns-remdesivir-how-much-can-they-make-and-how-much-does-it-cost/
Gilead’s patents mean that it has a monopoly on the drug in the United States, so barring government intervention or Gilead licensing the patent to others, it’s the only company that can manufacture it until 2037…
https://www.ft.com/content/6d034853-9fa3-41b6-a930-900f57629970
Gilead has said it will not focus on profiting from remdesivir and has been providing it for free. But the company has been criticised in the past for its pricing practices, including in a dispute with the US government over one of its HIV drugs, Truvada, which is priced at more than $20,000 a year in the US. The generic version costs about $6 a month elsewhere.
The Hydroxchloroquine’s main strength may not be inhibiting the virus but opening up the channel for zinc. Zinc has always affected viral replication and this drug simply makes it more bioavailable. I would like to see the clinical trial involving the combination.
“The young adults of today are going to have to get off their fat asses and put down the touch screens and pick up a shovel if the immigrants go home.”
Are we talking about the same young adults that are touching the screens on the ventilators and medical pumps while they breathe in the Covid particles from the overweight boomers and senior citizens?
BRT,
Americans are not famous for being long term thinkers or planners. Marketing has taught Americans that self-gratification is the way to go at any cost.
Pumps I asked you to stop referencing me in your posts. Please stop, and take this quarantine time to get help with your real estate price obsession. It is unhealthy.
Jcer I know people who have already taken 25 percent pay cuts. Also others who have been furloughed. Wall St bonus’s will definitely be impacted. As well a lot of young people too have been furloughed. I don’t know how anyone can believe this is all just going to snap back, and people are just going to run out and pay big bucks for housing. This has shaken things to the core.
Phoenix You are right on that. I hope the young people wake up and tear it all down.
“Drove through Walmart parking lot and hardly any customers were wearing masks. This was across any ethnicity, not just the stereotype MAGA crowd. All the employees were though. ”
the WalMart line comprises of a singular ethnicity, the mouth breathers
but I will corroborate,
I went out to the Edgewater waterfront. Actually, I went to TJ’s that line was insane, so then we dove past WH, also a crazy line so we decided to walk along the waterfront. I would say 50% compliance on the foot path.
I’m starting to think not wearing a mask is a political statement.
My cousins in Bergen County who have been rolling in the money the past 10 years are in deep deep crap. They all bought homes at the peak of 2006/2007 in Closter. POS capes that were too small. They dropped another $150k on additions to the house. Lexus and BMW payments up the wazoo. Credit card debt. 4 tropical vacations a year. They were each making 140k a year minimum. Given that they’ve been working off commissions, I wouldn’t be surprised to see them on their way to bankruptcy at some point in the next two years.
It runs in my family. My grandparents came to this country, owned two restaurants, became near millionaires in the 1970s…and pissed it all away. My father was a millionaire and managed to piss it all away as well. It’s in their DNA to overleverage themselves.
“This virus is indiscriminate in who it takes from us.”
Fcuk you, Murphy.
Again and again I see small snippets in the news and it doesn’t make sense but at some points the dots are joined and the picture makes sense.
This is a great piece of reporting and it is sickening. This is where your outrage should be directed.
https://youtu.be/14Ygl2DiUdQ
But hey lets talk backrubs.
https://foreignpolicy.com/2006/08/30/rubbing-people-the-wrong-way/
I agree we need to remain empathetic and remember there’s a person behind each data point… but when it comes to policy, we need to focus on the data and shouldn’t lead with emotions.
No matter what the politicians, talking heads and some health experts say… they’re clearly not only focused on the data. It’s what led to our lackluster response.
I’m confused about your reference to “140K minimum”…is the other $140K in commissions? Seems the lifestyle is not congruent with stated income.
I purchase used whenever I can, drive a POS but can just not work for a year or three.
Fun fact: pre COVID my wife and I were vetting daycare businesses to acquire. COVID has given us new perspective on things. We may also be shopping in the assets for sale section in the future.
Fab Yeah it’s just a back rub, your typical MO just dismiss it away if It does not fit your narrative, of course if it was a Republican doing the back rub you would be outraged. Asl your wife if she believes that kind of behavior should be so easily dismissed.
Joyce, what do you expect Murphy to say? The virus only affects the fat and old? It doesn’t affect the younger generation? This is obviously very complex and honestly, even the scientists are figuring out exactly who is effected and how.
Murphy may not be perfect, but better than Christie any day.
Joyce, what do you expect Murphy to say?
The truth.
In NJ: (not factoring in underlying conditions)
95% of deaths over the age of 50
79% of deaths over the age of 65
In NYC:
Only 0.7% of people of ANY age who did not have underlying conditions died.
Again, we shouldn’t do nothing… we should direct resources where they are needed. As Libturd mentioned, due to politics, neither “side” is putting forward such a plan.
I forgot to mention the 0.7% number doesn’t factor in the antibody testing results.
Murphy may not be perfect, but better than Christie any day.
Christie sucked. Murphy sucks. I’m curious as to why you think the latter is better?
There’s no doubt politically connect companies, both long-standing and brand new, will be profiteering throughout this period and it’s disgusting and I would argue criminal. I have no problem adding them to list of people that should be taken out to the woodshed.
I’d like to read about Blue Flame and Panthera buying PPE from the federal government and reselling to the states/hospitals/etc… ?
Fabius Maximus says:
May 2, 2020 at 1:19 pm
Again and again I see small snippets in the news and it doesn’t make sense but at some points the dots are joined and the picture makes sense.
This is a great piece of reporting and it is sickening. This is where your outrage should be directed.
https://youtu.be/14Ygl2DiUdQ
Judging by the amount of senior citizens I saw out shopping and wearing masks incorrectly today at Costco and Wholefoods we are going to see allot more of those dancing coffin pallbearers.
https://www.youtube.com/watch?v=y_lYoENIffI
Juice I saw lots of elderly without masks and mask less people so obese their legs and arms looked like sausages. I think my area is going to see a surge in cases later this month.
Blue – there are several studies using zinc. This one started last month in the US, 600 participants Phase II.
https://clinicaltrials.gov/ct2/show/study/NCT04334512
I don’t know exactly how their take home pay is structured but yes….lifestyle wildy out of whack with how much money they have. Had they chose to live modest, they could be looking at retirement in their 50s. Instead, I fear they will be looking at bankruptcy in their 40s.
Just got back from a 10 mile ride through the county park. Most people made a great effort to distance and allow for passing. As usual, the Princeton elites think they own the trail and can’t be bothered to wait 15 seconds for space to develop so they need to cut off a 5 year old.
beer- The fat little old ladies 5′ 2″ with a BMI greater than 30 were exposing their faces so their neighbors could recognize them as they shopped!
I saw a few chatting about grandchildren etc, face mask be dammed! They must think the daily cocktail they take of of Lisinopril, Levothyroxine, Amlodipine Besylate, Omeprazole, Metformin and Hydrochlorothiazide is going to save them!
Then there were the older couples spending an inordinate amount of time squeezing the produce, and a few very skinny women late 70s with perhaps the older husband at home were still out there shopping somewhat cautiously.
I chatted up the cashier as I always do, they say they cannot believe the seniors aren’t shopping during the senior hour in the morning, and it’s getting worse more and more out shopping every day and few take advantage of the curbside pickup.
Grim comment in mod….
As of Friday, there have been more Covid-19 fatalities on Long Island’s Nassau County (population 1.4 million) than in all of California (population 40 million). There have been more fatalities in Westchester County (989) than in Texas (611). The number of Covid deaths per 100,000 residents in New York City (132) is more than 16 times what it is in America’s next largest city, Los Angeles (8). If New York City proper were a state, it would have suffered more fatalities than 41 other states combined.
https://www.nytimes.com/2020/04/24/opinion/coronavirus-lockdown.html
beer- The fat little old ladies 5′ 2″ with a BMI greater than 30 were exposing their faces so their neighbors could recognize them as they shopped!
I saw a few chatting about grandchildren etc, face mask be dammed! They must think the daily pharam cocktail is going to save them!
Then there were the older couples spending an inordinate amount of time squeezing the produce, and a few very skinny women late 70s with perhaps the older husband at home were still out there shopping somewhat cautiously.
I chatted up the cashier as I always do, they say they cannot believe the seniors aren’t shopping during the senior hour in the morning, and it’s getting worse more and more out shopping every day and few take advantage of the curbside pickup.
beer- The fat little old ladies 5′ 2″ with a BMI greater than 30 were exposing their faces so their neighbors could recognize them as they shopped!
I saw a few chatting about grandchildren etc, face mask be dammed! They must think the daily cocktail of drugs they take is going to save them.
Joyce -There was a massive anti-trump backlash when he dared give hope and say something to the effect that the virus will die off when temperatures rise in the spring. Did he mean the east coast? Who knows, it wasn’t warm here like Texas or India.
Science is still out but there was a bunch of perhaps “early” information when somebody said no way temperature does not kill the virus those folks jumped to conclusions and perhaps forgot the “surface temperature” of stuff like the doorknob of your home or a business is much higher than the air temp when exposed to sunlight.
Proteins are after all temperature sensitive, and be thankful they are otherwise you would never be able to eat an egg or a chicken.
Don’t take this as advise..boil your egg and fry a chicken whatever.
beer- beer- The fat little old ladies 5′ 2″ were exposing their faces so their neighbors could recognize them as they shopped!
I saw a few chatting about grandchildren etc, face mask be dammed! They must think their daily pharma cocktail is going to save them!
A simple search of the “coronavirus temperature” yields a ton of recently released articles that claim summer will not help us with coronavirus. This is a new narrative that has been directed from the media gods. This is very counterintuitive and all the data from the warmer states and countries have suggested otherwise. UV light and temperature and no school do wonders for the slowing down of virus spread. There are other factors associated with it as well. I’m actually quite optmistic that working from home, social distancing, and absence of mass gatherings indoor will be enough to slow this down prior to vaccination. Also, given the urgency of the vaccination studies taken by an insane amount of companies and academics, I don’t think it’s out of a question that we may see multiple vaccinations available earlier than expected.
Blue – Anecdotal information tells us those most susceptible to death should never leave their homes yet they do. Must be J*ebus……
6 months folks…Strap in folks and enjoy life as your days are well always numbered….
I took a drive up to Harriman St park. My car battery died and I needed a long run to charge it back up. Drove along 7 Lakes Drive and you would have thought it was the 4th of July. Lots of BBQ s on the picnic tables. Lost of fishing and hiking. A lot of masks, but not everybody.
Get ready for wave 2.
At the beach today older folks were social distancing at least 10 or more feet apart. Some families were together on blankets. Teenagers were in packs ignoring any precautions. I’d say less than 50 people on a 3/4 mile stretch. We could see Asbury Park south of us had lots more people. Everybody was happy just to be in the fresh air and sun.
My 2A friends are freaking out at Canadas ban yesterday. I keep forgetting that Saint Ronnie did the same thing as governor of CA in 1967
A beautiful Irony.
“Then Gov. Ronald Reagan, now lauded as the patron saint of modern conservatism, told reporters in California that he saw “no reason why on the street today a citizen should be carrying loaded weapons.” Reagan claimed that the Mulford Act, as it became known, “would work no hardship on the honest citizen.” The NRA actually helped craft similar legislation in states across the country.”
https://www.theroot.com/fear-of-a-black-gun-owner-1790894990
“Juice I saw lots of elderly without masks and mask less people so obese their legs and arms looked like sausages.”
My vote for quote of the day.
Juice 6 months for what?
Joyce,
Did you mean Chris Christie or Christie Whitman?
Cause Christie Whitman was a one woman wrecking ball for NJ and NY- and America in general.
Murphy could never outdo that one.
Whitman the idiot who decided to fund pensions by borrowing. If we are such a great state, with the best and the brightest and the some of the most sophisticated and savvy residents, why is it we elect these type of people over and over.
Watch the series, “The Wire.” It does a beautiful job of explaining why. People come in with good intentions, but the process corrupts them.
Their explanation of why inner city schools fail is dead on also. One of my fav series of all time.
3b says:
May 2, 2020 at 8:20 pm
Whitman the idiot who decided to fund pensions by borrowing. If we are such a great state, with the best and the brightest and the some of the most sophisticated and savvy residents, why is it we elect these type of people over and over.
I assumed RentL0rd meant Chris Christie.
Phoenix says:
May 2, 2020 at 7:51 pm
Joyce,
Did you mean Chris Christie or Christie Whitman?
Cause Christie Whitman was a one woman wrecking ball for NJ and NY- and America in general.
Murphy could never outdo that one.
Let me restate what Blue Teacher stated – “The virus targets the poor”.
I said no such thing.
This is the greatest fcuking thing ever…..
Juiced Boxing says:
May 2, 2020 at 3:55 pm
Judging by the amount of senior citizens I saw out shopping and wearing masks incorrectly today at Costco and Wholefoods we are going to see allot more of those dancing coffin pallbearers.
https://www.youtube.com/watch?v=y_lYoENIffI
I always remember going to Arthur’s in Hoboken 25 years ago, and there was always a table of 4 that rocked the scales at a collective 1,200 pounds. Each with a fatty steak and a fcuking huge pint of Coors with a ruddy face that looked ready to blow……
Phoenix says:
May 2, 2020 at 7:48 pm
“Juice I saw lots of elderly without masks and mask less people so obese their legs and arms looked like sausages.”
My vote for quote of the day.
Change You Can Believe In
Eva Murry, the niece of a former GOP Senate candidate who ran against Biden, says that Biden spoke lewdly to her at a political dinner in 1993 — when she was just 14 years old.
Biden “turned to me and asked how old I was,” Murry told the Law&Crime website Friday. “I replied with my age and he replied with the comment, ‘Fourteen? You’re very well endowed for 14!’”
If you need some fun with friends on a Saturday night. Fire up the Z00m and have a game of Cards against Human1ty.
https://tinyurl.com/tjyet2x
I remember going to Arthur’s in Hoboken with you.
That was actually a very enjoyable evening.
Fab,
If your view is all firearms should be illegal, I can respectfully disagree with your opinion but I understand your view at least.
But how familiar are you with Canadian gun laws?
In Canada, (anyone correct me on the below of I get something wrong.)
– magazines are limited to 5 to 10 rounds depending on the caliber.
– firearms are not a right. You need to apply for licensure to own long rifles (including the AR platform). And the ones I know you don’t like fall into a category above the non-restricted category.
– many of the cosmetic features that our prior “assault weapon” ban had are already in effect in Canada.
– there is a 28 day waiting period for first purchase.
– Safety training is required for licensure.
– they had a registry, but it was disbanded.
– using a firearm for self defense is not legally impossible but generally otherwise impossible due to their requirement to retreat and all weapons being required to be stored in a safe.
– licensed individuals are polled daily to make sure they have no offenses that would void their license.
– licenses last 5 years and must be renewed.
Honestly, Canada is generally already more restrictive then most if not all states and it’s not like Canada has a gun violence concern anyway.
And this was enacted (legally, but still) by executive decree outside the normal legislative process during a pandemic when people are unable to protest; in response to a broken individual who was not licensed to own firearms and illegally smuggled them into the country from the United States who then used them to kill a officer and take their firearm and killed a dozen others.
This law does nothing to stop anything that happened.
I’m sorry, even if that’s a win for gun control, it’s a sh!tty day for anything resembling democracy.
Jcer,
As I took a step back and analyzed the economy, I’ve come to the conclusion that it looks like it’s going to rebound hard.
First, looks like the FED will step in to do whatever it takes to always keep the gears moving in the economy. So a true bottom is not possible at the moment. You need the gears to stop moving to see the engine blow aka true bottom.
Taking this into account, what we are witnessing is a revolution in our economy. The bottom cycle, due to the FED’s new actions, is no longer the same. And I believe they have learned from last cycle (2008) to do whatever it takes to catch the bottom and get its footing quickly.
Point, we are witnessing a rapid recalibration of the economy. It no longer takes years at the bottom to recalibrate the economy. Now, you see workers no longer needed, being reshuffled, with support (good unemployment with fed kicking in more) while they are reshuffled to more productive positions in the economic system as businesses rapidly adjust.
I’m not saying I’m correct, but this is what I see. It seems the stock market is one step ahead of me on this. Look at how rapid that bear market correction was? Unheard of. It was like 3 days.
If the FED played its hand right, and the stimulus was effective, the economy will come out of this stronger. If that does happen, will you guys believe in roaring 20’s 2.0? The millennials will want to buy houses and start families. I think even more so with this virus quarantine. They were ready before this hit, so imagine after. The millennial baby boom is coming, and it’s going to drive the economy to never before seen highs when it’s combined with rapid tech innovation, and a new found control of the economy by the FED.
My take, not saying it’s correct.
Only right after this post that I bring out the handle.
Pumps it depends on how long this goes on. A return to normalcy is what is needed but the longer it takes to get there, the greater damage to our economic system. A lot of people are wholly unprepared for a prolonged period of lean times. The financial damage done to people over a prolonged period would lead to a recession. The tools the central banks have are blunt instruments, they cannot create the demand of a vibrant economy. There also tend to be unintended consequences of FED actions.
If we can really open up quickly I think recession could be averted, but that does not look like a reality at this point. Housing will likely be effected but given the lack of run up in NNJ, I don’t see a crash here more of a slump.